Li Auto Delivers 158,696 Cars in Q4, Below Guidance Range
Li Auto, a leading electric vehicle manufacturer, recently announced its fourth-quarter delivery numbers, falling short of expectations. The company reported delivering 158,696 cars in the fourth quarter, which was below the lower end of its guidance range of 160,000 to 170,000 units.
In addition to the delivery figures, Li Auto had previously forecasted fourth-quarter revenue to be between RMB 43.2 billion ($5.94 billion) and RMB 45.9 billion, representing a 3.5 percent to 10.0 percent year-on-year increase.
The company is set to release its unaudited financial results for the fourth quarter and full year 2024 on Friday, March 14, before the US markets open. An earnings call will follow at 8:00 am US Eastern time, or 8:00 pm Beijing time, on the same day.
Although the fourth-quarter delivery numbers were below expectations, Li Auto saw a 20.40 percent year-on-year increase in deliveries for the quarter and a 3.84 percent uptick from the third quarter. For the full year 2024, the company delivered a total of 500,508 vehicles, marking a 33.10 percent year-on-year growth.
During the third-quarter earnings call last year, Li Auto had guided for fourth-quarter revenue growth, following record revenue of RMB 42.9 billion in the third quarter. The company also reported a net income of RMB 2.82 billion for the third quarter, with a gross margin of 21.5 percent.
Investors are eagerly awaiting the company’s 2025 product plans, which will be a key focus during the upcoming analyst call. Li Auto recently unveiled its first all-electric SUV model, the Li i8, and shared initial images of the vehicle to generate excitement among consumers and investors.
The announcement of the Li i8 has already had a positive impact on Li Auto’s stock performance, with shares in Hong Kong trading up approximately 20 percent over the past three trading days.
As Li Auto prepares to report its fourth-quarter and full-year financial results, industry analysts and investors will be closely watching for updates on the company’s performance and future growth prospects. Stay tuned for more information following the earnings call on March 14.
